The current financial and political environment creates unique estate planning opportunities. The uncertainty of the duration of the coronavirus pandemic, depressed stock prices, low interest rates, and the uncertainty of the outcome of the November elections make current gifting particularly attractive. Techniques that take advantage of low interest rates include GRATs, charitable lead trusts, and […]
The Official State Gazette (BOE) of 29 April published Royal Decree-Act 16/2020, of 28 April, laying down the procedural and organisational measures intended to address the slowdown caused by the COVID-19 crisis in matters of Justice Administration. Chapter II includes measures in the area of bankruptcy: Preferential procedures in matters of bankruptcies For 1 year […]
A company’s documentation can be very varied and we often wonder how long we must hold on to it. This newsletter compiles the most relevant time limits that companies must observe in retaining documentation. Keeping accounting and commercial documents: in general, 6 years There exists a legal obligation to keep a company’s documentation for a […]
Act 16/2011, of 24 June, regarding consumer credit agreements Over the last three decades, the credit market has undergone considerable development, while its agents and financial techniques have evolved very rapidly. Act 16/2011 is intended to incorporate Directive 87/102/EEC into Spanish law. This Act applies to any agreements where the lender (natural or legal person […]
Introduction With the United Kingdom’s withdrawal from the European Union, EU companies are experiencing its consequences in their transactions. Firstly, Brexit is understood to affect companies that provide or receive services and sell or purchase goods in the United Kingdom; in addition to those that transport goods across the country. It should be taken into […]
The BOE (Official State Gazette) of 29 April 29 has published Royal Decree-Act 16/2020, of 28 April, regarding procedural and organizational measures intended to address the downturn caused by the COVID-19 crisis within the area of the Administration of Justice: 1.- Measures relating to occupational safety. Customer service will be carried out by phone or […]
This regulation includes measures of a fiscal or tax nature, which can be classified into the following 4 blocks: VAT on goods necessary to combat the effects of COVID-19. Corporation Tax – instalment payments. Objective estimate of Personal income tax [IRPF] and Simplified VAT regime. Executive procedure debts for which financing has been requested. VAT […]
This regulation foresees measures for changes to facilitate necessary economic adjustments and to protect employment. These measures can be classified in the following blocks: Employee-owned Companies. Remote work and adapted-reduced workdays. [temporary suspension plan] Penalties in labour matters. Self-employed and option for Mutual Insurance Company Cooperatives. Measure. Temporary flexibility in the use of the Cooperatives […]
Measures within this regulation are planned to improve the protection of citizens in situations generated by the health crisis, as well as complementary measures in Social Security. These measures can be classified in the following blocks: Unemployment protection. Pension plans. Reduction of Notary and Registry costs. Consumer contracts. ICO-guaranteed loans [Official Credit Institute]. Quote for […]
Spain. Covid-19. Measures to reduce operating costs for SMEs and the self-employed Measures have been passed to contribute to mitigating the effects of the health crisis in on the leases of premises, warehouses or business or industry leases. Two distinct cases have been set up depending on whether the lessor is a “large holder” of […]
Earlier this month, Caplin & Drysdale warned foreign individuals present in the United States of the potential unintended U.S. tax consequence of quarantines and travel restrictions put in place due to COVID-19. Additionally, taxpayers who intended to qualify for the foreign earned income and housing exclusions, but who felt forced to leave their foreign country […]
By Ted Citrome and Aaron Swartzman On Saturday April 11th, Parliament passed the Federal government’s wage subsidy legislation, formally known as COVID-19 Emergency Response Act, No. 2 (the “Act”), to enact the Canada Emergency Wage Subsidy (“CEWS”). The Act introduces additional details since Prime Minister Trudeau last announced changes to the CEWS. Of particular note, the group of employers who qualify for […]
